Bitcoin Reaches IDR 78.1 Million, Crypto Magic Believes Bullish Potential Ahead Of Halving

Bitcoin reaches the level of IDR 78 million (photo: freepic)

JAKARTA - On Tuesday, February 13 at 08.00 WIB, the price of Bitcoin (BTC) was at the level of 50,154 US dollars (Rp78.1 million), up about 4.15% in the last 24 hours.

The price of Bitcoin has again reached USD 50.000 (IDR 77.9 million) for the first time since December 2021. Thus, BTC has increased by 17.40% since February 1, 2024.

Meanwhile, compared to February 2023, Bitcoin's current market capitalization is better than 130% to USD 980 billion. Meanwhile, the total market capitalization of Crypto Assets is at the level of USD 1.828 trillion, an increase of 3.69% in the last 24 hours.

The Financial Expert of Crypto, Panji Yudha, explained that the price of Bitcoin at the level of 50,000 US dollars (Rp77.9 million) has become psychological support.

"Currently, the level of $50,000 will be psychologically supportive and if it is able to survive at that level there is potential for a follow-up to US$52,000 (Rp810 million)," he explained in a statement received.

Meanwhile, if it drops below 50,000 (IDR 77.9 million), the potential decline to the nearest support is at 48,000. It is hoped that this week there will be a release of US inflation data.

Seeing various positive sentiments such as Bitcoin breaking which will occur in April 2024, in the long term, Panji believes it will still be bullish. Because according to him, Bitcoin breaking will have an impact on the supply of Bitcoin entering the market.

"For example, after the third halving in 2020, only 900 bitcoins have just been mined into the market every day, which will soon drop to 450 bitcoins per day when the Bitcoin halving occurs in April," concluded Panji.